Weekly Token Unlocks: HYPE Unlocks Tokens Worth Approximately $320 Million

marsbitPublished on 2026-01-04Last updated on 2026-01-04

Abstract

This week's major token unlocks feature significant releases from Hyperliquid and Ethena. Hyperliquid, a high-performance blockchain aiming to build a fully on-chain open financial system, will unlock 12.49 million tokens, valued at approximately $320 million. Ethena Labs, the creator of the algorithmic stablecoin USDe, will unlock 170 million tokens, worth roughly $42.91 million. USDe maintains its peg by utilizing collateral in BTC and stETH, generating yield from staking rewards and funding rates from short perpetual futures positions. Both projects have provided their specific token release schedules.

Hyperliquid

Project Twitter: https://x.com/HyperliquidX

Project Website: https://hyperfoundation.org/

This Unlock Amount: 12.49 million tokens

This Unlock Value: Approximately $320 million

Hyperliquid is a high-performance blockchain built with the vision of creating a fully on-chain open financial system. Liquidity, user applications, and trading activities synergize on a unified platform, aiming to accommodate all financial operations.

Specific release curve is as follows:

Ethena

Project Twitter: https://x.com/ethena_labs

Project Website: https://www.ethena.fi/

This Unlock Amount: 170 million tokens

This Unlock Value: Approximately $42.91 million

The algorithmic stablecoin USDe, launched by Ethena Labs, currently relies on collateral such as BTC and stETH, along with their inherent yields. It simultaneously creates Bitcoin and ETH short positions to balance Delta and utilizes perpetual/futures funding rates to maintain the peg and provide yields. Essentially, it uses the yield from spot positions to hedge the losses from the one-time short positions, achieving balance while capturing ETH staking yields and short position funding rates.

Specific release curve is as follows:

Bitcoin Bull Michael Saylor Hints At Next Purchase With Cryptic Post

MicroStrategy's stock (MSTR) has declined sharply, dropping over 9% in a day and 25% over the past month, following the company's first Bitcoin sale in years. The firm sold 32 BTC for approximately $2.5 million, raising investor concerns about further sales. Meanwhile, Executive Chairman Michael Saylor sparked speculation of a renewed Bitcoin purchase with an unusual midweek social media post stating "Back to Work," breaking from his typical Sunday routine. The company holds about $900 million in cash and recently raised $128 million through share sales. Despite the recent activity, MicroStrategy remains the world's largest corporate Bitcoin holder with 843,706 BTC. Additional speculation arose from the firm moving Bitcoin to Coinbase Prime.

bitcoinist10m ago

Bitcoin Bull Michael Saylor Hints At Next Purchase With Cryptic Post

bitcoinist10m ago

GitHub, Transfixed by AI

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marsbit32m ago

marsbit32m ago

Visualizing Musk's Wealth: $3.6 Million Per Hour, Average Person Needs 11 Million Years of Work

Elon Musk is on the verge of becoming the world's first trillionaire, with a current estimated net worth of $970 billion. This wealth, largely tied to equity in SpaceX and Tesla, translates to him accumulating roughly $992 per second or $3.6 million per hour on average over his 31-year career. His fortune surpasses the annual GDP of over 125 countries and represents about 3% of U.S. GDP, double the relative wealth of historical figures like John D. Rockefeller. For perspective, an average U.S. household earning the median income would need to work over 11 million years to amass a comparable sum. Musk's wealth could buy approximately 2.4 million average American homes, all 32 NFL teams plus every NBA team, or over 10,000 private jets with operating costs. The analysis highlights the staggering scale and concentration of modern wealth, driven by successes in electric vehicles, space exploration, and artificial intelligence.

marsbit35m ago

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marsbit35m ago

Both Suffer Massive Losses Exceeding $90 Billion, Which Is in Greater Peril: Strategy or Bitmine?

Facing massive paper losses exceeding $90 billion each amidst a sharp market downturn, "Digital Asset Treasury" (DAT) giants Strategy and Bitmine find themselves in a precarious position, but with different underlying risks. Strategy, heavily invested in Bitcoin (BTC), faces significant financial strain. Its strategy relies heavily on debt, including convertible notes and preferred stock (STRC) requiring substantial dividend payments. With its cash reserves dwindling and BTC offering no staking yield for cash flow, Strategy's high leverage makes it vulnerable. A continued price decline could force asset sales to meet obligations, potentially creating a negative feedback loop. Its market value has already fallen sharply. In contrast, Bitmine, an Ethereum (ETH) holder, appears on firmer financial ground. It primarily funds its purchases through equity offerings (like ATM programs), avoiding debt pressure. It also generates income by staking a large portion of its ETH holdings. While not immune to market drops and shareholder dilution concerns, Bitmine maintains more flexibility, recently announcing a new preferred share offering to raise further capital. The core divergence lies in their financing: Bitmine uses equity (investor money), while Strategy uses debt (borrowed money). Consequently, Bitmine currently faces less immediate liquidity pressure than Strategy, which must navigate the dual challenge of servicing debt/dividends and a declining core asset (BTC) price.

marsbit39m ago

Both Suffer Massive Losses Exceeding $90 Billion, Which Is in Greater Peril: Strategy or Bitmine?

marsbit39m ago

Both Suffer Losses Exceeding $9 Billion, Which Is More at Risk: Strategy or Bitmine?

As Bitcoin and Ethereum prices drop significantly, two major corporate treasury holders, Strategy and Bitmine, are facing massive unrealized losses—approximately $100 billion and $90 billion, respectively. The article compares their financial health and underlying risks. Bitmine, holding over 5.4 million ETH, relies primarily on equity financing (like ATM offerings) and has substantial cash reserves, alongside staking income from its ETH holdings. It plans a $300 million perpetual preferred stock offering. In contrast, Strategy, holding Bitcoin, is burdened by significant convertible debt and preferred stock dividends, with cash reserves covering only about six months of its annual dividend obligations. Strategy's leverage is higher, and it faces potential liquidity pressure if BTC prices fall further, possibly forcing asset sales. While both companies are under pressure, Bitmine’s financial structure appears more resilient, whereas Strategy’s high leverage makes it more vulnerable to continued market declines.

Odaily星球日报43m ago

Both Suffer Losses Exceeding $9 Billion, Which Is More at Risk: Strategy or Bitmine?

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Trading

Spot

Futures